Cabaletta Bio (NASDAQ:CABA) Announces Earnings Results

Cabaletta Bio (NASDAQ:CABA – Get Rating) issued its quarterly earnings results on Thursday. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08, MarketWatch Earnings reports.

Shares of CABA stock traded up $0.17 during trading hours on Friday, hitting $1.49. The company’s stock had a trading volume of 118,402 shares, compared to its average volume of 172,872. The company has a 50 day moving average of $1.74 and a 200 day moving average of $4.84. Cabaletta Bio has a 12-month low of $1.17 and a 12-month high of $14.95.

A number of research analysts have issued reports on the stock. Mizuho cut their price target on shares of Cabaletta Bio from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. HC Wainwright cut their price target on shares of Cabaletta Bio from $22.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. Finally, Zacks Investment Research lowered shares of Cabaletta Bio from a “buy” rating to a “hold” rating in a research note on Tuesday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.88.

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Cabaletta Bio by 120.2% in the 1st quarter. Bank of New York Mellon Corp now owns 22,674 shares of the company’s stock valued at $46,000 after acquiring an additional 12,379 shares during the last quarter. Walleye Trading LLC purchased a new stake in Cabaletta Bio during the fourth quarter worth $87,000. Cubist Systematic Strategies LLC boosted its holdings in Cabaletta Bio by 112.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 22,880 shares of the company’s stock worth $87,000 after buying an additional 12,106 shares in the last quarter. Northern Trust Corp boosted its holdings in Cabaletta Bio by 17.4% during the fourth quarter. Northern Trust Corp now owns 29,307 shares of the company’s stock worth $111,000 after buying an additional 4,337 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Cabaletta Bio during the fourth quarter worth $151,000. 62.75% of the stock is currently owned by institutional investors and hedge funds.

Cabaletta Bio Company Profile (Get Rating)

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.

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